How to Cash Out Your Crypto? (Best Banks, OTCs, Exchanges, etc)

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Күн бұрын

Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships:
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You can visit our website for more information about us: offshorecitizen.net
You have made some money in crypto and now you're thinking about actually cashing it out. What are your options? I often get this question from my clients, so today we'll be talking about ways to withdraw your money from crypto.
As you probably know, there are several options to get this done: Banks, OTC desks, and Crypto Exchanges.
What makes the most sense for you? Which banks will accept money from crypto? Let's fin out today.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
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Пікірлер: 259

@OffshoreCitizen Жыл бұрын

To get personalized advice book a call with Michael: calendly.com/michael-rosmer?month=2021-03

@hardstyle8184 2 ай бұрын

thanks bro... just found your channel. learning all the different options to off-ramp is very important also people forget this... thanks... subscribed!

@masonnoah8306 3 жыл бұрын

To everyone who is thinking of starting their own business, believe in yourself and never give up.Your future self will be thankful

@OffshoreCitizen 3 жыл бұрын

Those are some kind and motivating words Natalie, you're right!

@masonnoah8306 3 жыл бұрын

@@OffshoreCitizen yes and thanks anyways... you got any business plan??

@michelledaniel400 3 жыл бұрын

Great content. Everyone needs more than their basic salary to be financially secured

@michelledaniel400 3 жыл бұрын

Lol I’m used to trading with 2-5ETH back in the days. Now it’s like hmmm, I should lower my risk with using less ETH.guess what Automate taught me how to minimize my losses.

@michelledaniel400 3 жыл бұрын

I I’m happy I was able to join automate and his team before ETH Started surging high...

@multidimentionalpoopie9107 2 жыл бұрын

Also stablecoins help a lot. If you're going to buy back, it's easier and cheaper to swap for usdt, for example, and buy the dip afterwards

@michaelgreen8525 3 жыл бұрын

Michael thank you for mentioning a few banks as struggling here.

@OffshoreCitizen 3 жыл бұрын

You're welcome. Glad to be of service

@harumancer580 3 жыл бұрын

Michael, I am more and more impressed with your take on the crypto exit processing.

@OffshoreCitizen 3 жыл бұрын

Thanks!

@ahmedadam8851 2 жыл бұрын

@@OffshoreCitizen how do withdraw from bitrue? I'm a amateur when it comes to crypto.

@goutfromfriedokra3936 Жыл бұрын

@@OffshoreCitizen Regarding crypto exit process, if I, US citizen, bought crypto in 2019 and plan to move to Puerto Rico and sell my crypto there...Am I still required to pay full tax rate to US gov, or a mix between Puerto Rico and US????

@zubinwarden7888 9 ай бұрын

@@OffshoreCitizenHi Michael, what are the OTC’s in Singapore where you can cash out your crypto from your wallet without any KYC

@ukrnatal 4 ай бұрын

@@goutfromfriedokra3936You pay, if you are a US citizen. You don't pay, if you change your tax residence (move) to a non tax country.

@mltnetwork 3 жыл бұрын

Thank you...great info, no doubt!!

@OffshoreCitizen 3 жыл бұрын

Our pleasure!

@SulisHana 6 ай бұрын

love this, thank you so much. Much needed information and timely!

@OffshoreCitizen 6 ай бұрын

Always happy to be of service. Anything you'd like to see next?

@Angie-im1xq 5 ай бұрын

@@OffshoreCitizen Thank You For This Video. I have a question. My Capital Gains this year are over $600,000 and my total income is only $85. I dont undertand why!?? I use Uphold and I traded One Crypto for another, thats it. I have only cashed out $700 total for 2023. All the other trades were done within Uphold, Like trading Bitcon for XRP, Etherium to XLM etc... So my taxes are saying i owe over $200,000 this year! I am so confused by this. I lost a ton of $$ this year when everything dropped. And i only cashed out $700 total. Why are my capital gains so high and saying i owe over 200K in taxes. HELP... :)

@mltnetwork 3 жыл бұрын

Great job and info...thank you!!

@OffshoreCitizen 3 жыл бұрын

Appreciate it! You're welcome! Anything you'd like to see in the future?

@4ivar 3 жыл бұрын

Best topic there is 🌞

@leekeenloong4518 Жыл бұрын

I am interested to find out more about QCP capital, nice video and thanks for the amazing insights

@VERTICALWisdom 3 жыл бұрын

As time goes on I thinking niche banks will see the value in attracting crypto investors. Plan an exit plan before you buy the assets.

@MichaelRosmer 3 жыл бұрын

Yeah Europe is showing that trend towards more niche banks that understand particular markets

@alexthievery7834 2 жыл бұрын

Very informative but very vague as well 🚶🏽‍♂️

@DJOOLA221 2 жыл бұрын

Very helpful infos, thank you very much.

@OffshoreCitizen 2 жыл бұрын

Always a pleasure! Anything else you'd like to see?

@DJOOLA221 2 жыл бұрын

@@OffshoreCitizen Sure, mainly more infos on how to minimise taxes on crypto gains and recommandations for canadians. Thanks.

@newworldmoney8926 2 жыл бұрын

Nice to see you're crypto fluent..

@OffshoreCitizen 2 жыл бұрын

Thanks! 😃

@rpnchilled 2 жыл бұрын

Subscribed, there's very little I despise more than paying taxes.

@OffshoreCitizen 2 жыл бұрын

Lol Thanks! Any video suggestions?

@masstv9052 2 жыл бұрын

but you sure enjoy using the infrastructure and the safety that taxes afford you, cheapskate

@SulisHana 6 ай бұрын

as per the suggestion above. How can we best open multiple bank accounts in several different low tax countries @@OffshoreCitizen

@chinchin3451 2 жыл бұрын

I'dd add one more tip, although it's not directly about cashing out. Sometimes you cash out to wait out a storm in the market, but it's much easier and cheaper to swap your crypto to stablecoin like usdt, for example

@OffshoreCitizen 2 жыл бұрын

Nice! Thanks for sharing your insight! How did you like the video?

@sportingfemalelegends Жыл бұрын

Thks, so as a noobie, do i transfer the crypto from wallet to exchange, and simply convert it to the USDT then send it back to my wallet? Any other tips appreciated also.

@mauriziorosini6402 3 жыл бұрын

Great content Micheal! Very very good insights! Thanks mate💪💪💪📈💯

@MichaelRosmer 3 жыл бұрын

Thanks! Any content you'd suggest I create?

@darrellbrown3691 3 жыл бұрын

Great info. Thank you. Sub'd.

@OffshoreCitizen 3 жыл бұрын

Thank you for the support! In case you have any suggestions, feel free to comment below :)

@johnnychrist2128 2 жыл бұрын

The more I trade, the less I cash out though. Especially after I found out about usdt and other stablecoins

@connorl5868 2 жыл бұрын

Really Johnny 🤔

@jameswaltz8473 2 жыл бұрын

I think your right. Now im working with a recovery outfit

@ChristianCohn 3 жыл бұрын

Also we should rather propagate that there is no Bullrun End and so there wont be any End, as people wont panic sell their holdings then. I would just hodl.

@brianbrockwell3871 2 жыл бұрын

Hey Michael what banks currently allow you to link your crypto wallet to for both depositing and withdrawing from in larger amounts? Do any of the CBI allow this?

@AlexNoaX 3 жыл бұрын

Very good videos, really informative, keep up the good work, regards

@MichaelRosmer 3 жыл бұрын

Thanks! Anything you'd like to see?

@timskintight 8 ай бұрын

Updates with current off-ramps? 🙏🏼

@BrandonClark-StocksPassports 2 ай бұрын

Subscribed

@ibraheemali9541 2 жыл бұрын

Which one is good for starters?

@reszia 2 жыл бұрын

How do you find out which banks are crypto friends, especially considering that this can change anytime?

@cryptosrichboy1064 13 күн бұрын

Purpe 🚀

@psylocibeboobensis5978 2 жыл бұрын

For a newcoming traders, I'd also suggest do your research on stablecoins like usdt, dai etc. You don't always wanna cash out if you're trading, it's much less painful to swap to a stablecoin

@sportingfemalelegends Жыл бұрын

Thanks, yes can you recommend any youtubers who embrace the lingo lacking noobs on this topic?

@cpnicolas11 7 ай бұрын

Are they safe though??? Usdc can depeg or any others ? What's really safe ? Pax Gold ? Move to Dubai ? Lol

@QuadTap 4 ай бұрын

Which scenario is more cost efficient way to exit on chain dex-alts to usd? 1: dex-alts>eth>cex>usd OR 2: dex-alts>stablecoin>cex>usd NOTE: some exchanges like coinbase charge no fee to convert between usdc and usd. So the question is… if you sell dex-alt to a stable it goes through an additional pool step.. Is the extra dex pool step/fee to convert alt>eth>usdc before sending to cex cheaper than trading a bag of eth to usd on cex given that once USDC arrives at cex no further fee is required. It’s really hard to understand and get good visibility on this.

@bigb9673 3 жыл бұрын

I have some cryptos with Caleb and Brown out of Australia. They have access to a lot of liquidity, so cashing out is not a problem. I'm Canadian, can i set up a bank account outside of canada to send fiat once i cash out ? Would that be advantageous for tax purposes ?. Just discovered your chanel today lots to learn.

@ENigma-es7td 2 жыл бұрын

If your doing yield farming/staking you may have to look at other options…names exactly 0 options…way to go

@aquilomanganelli175 3 жыл бұрын

Hmmm, you've got me thinking here. Over the last year I have only deposited cash into my crypto exchange from my bank via ACH transfer. I have not sold any crypto, converted to fiat nor withdrawn any fiat back into my bank account. Maybe I should do a dry run with a small portion just to test the waters. I'm in the USA BTW.

@MichaelRosmer 3 жыл бұрын

For small amounts you'll usually be fine but yeah be a bit careful.

@lancebrown8823 3 жыл бұрын

I went to Bank Of America and asked, and they said no.........

@pattimurphy5151 2 жыл бұрын

Wait till after this year for large amounts, or plan on paying gains on it. No one really covers how to sell your crypto into stable coin then into bank for large amounts. Very hard to do.

@timetravelvictim 2 жыл бұрын

@@pattimurphy5151 We definitely need more videos on this topic

@pattimurphy5151 2 жыл бұрын

@@timetravelvictim I know. There needs to be more info. on after you make your million, or heck even 100k. What options and ideas to make it grow. I think I'm going to put mine into TrueUS eth-20. From there you can buy pax gold or actual golds or silver with bitcoin also. This last bull run we have to take some profits because the coins will probably crash hard after. Then you will have to wait for the next cycle.

@sayednab 3 жыл бұрын

And what about Kraken Bank? Would u recommend it?

@mickm4577 Жыл бұрын

After 2 years, would you have any changes to these recommendations?

@stevehorn6206 2 жыл бұрын

Is there some risk of money laundry on OTC desk? Criminals can use OTC desks to get crypto.

@arifkatlagari3462 2 жыл бұрын

Nice video

@OffshoreCitizen 2 жыл бұрын

Thank you, Arif! Anything you'd like to see next?

@bobby1970 3 жыл бұрын

Hi, Michael, what city were you in when you made this video? It's beautiful.

@OffshoreCitizen 3 жыл бұрын

Thanks! This is Dubai marina :)

@karlsvensson1766 2 жыл бұрын

InterContinental Dubai Marina, Dubai, judging from the view.

@Mark.Kenlock 2 жыл бұрын

Thank you for the explanations! Is it confirmed that you can pay for the malta residency by investment or citizenship using crypto?

@MichaelRosmer 2 жыл бұрын

No you can't

@cryptoinvestor216 2 жыл бұрын

Thank you for the info! When selling large amounts of crypto to stablecoins, is it best to sell in small sell orders or in one large amount? When it comes to selling at the peak of the bull run I don't want to risk it not being sold. Can you please help?? Thank you!

@OffshoreCitizen 2 жыл бұрын

It doesn't really matter you unless the amounts are really large and going to create slippage

@sc3639 3 жыл бұрын

Awesome work. I love your videos. I am currently trying to renounce my US citizenship as I am a Canadian living in Canada. Then I will start working on moving out of canada. I hope to visit portugal and hopefully move there shortly.

@OffshoreCitizen 3 жыл бұрын

Best of luck! How are you finding the US renunciation process so far?

@sc3639 3 жыл бұрын

@@OffshoreCitizen Not good. They have not been in contact with me at all. I have filled out all the right information and sent it in. Now it is up to them to do their part. Ug, I can't wait to be done this.

@MichaelRosmer 3 жыл бұрын

@@sc3639 where are you going to renounce?

@dlukton 3 жыл бұрын

@@sc3639 Andrew Henderson (Nomad Capitalist) has said many times that there have been long delays in the US citizenship renunciation process ever since COVID hit (and that guy who does "citizenship quickly" videos has said the same thing).

@sc3639 3 жыл бұрын

@@MichaelRosmer Probably toronto

@danielfernandes532 3 жыл бұрын

Any idea which Portuguese banks are crypto friendly?

@mrsportfish8987 2 жыл бұрын

Portugal is very crypto friendly

@COO698 5 ай бұрын

Good Morning You have this information updated?

@hanswurst9700 2 жыл бұрын

How can i open an account in Singapur, residing in Europe ?

@kojangshale7466 2 жыл бұрын

Can you recommend a bank in South Africa?

@emmanuelpaul8851 3 жыл бұрын

Hello thanks for your content, we hard a problem today 20 July 2021, between the hours of 1.30am to 8am European time, a crypto called WSPP that I bought for les than a penny Skyrocked and I had over 2million dollars showing on my trust wallet, we tried all we can to change into fiat, other coins etc but it was not possible because all other exchanges still had the WSPP coin at its initial price except TRUSTWALLET and COINMARKETCAP while some don't have it at all. I don't understand, is there something I can do next time or was it just a mistake from Trustwallet and Coinmarketcap ? Thanks

@Cos3D 2 жыл бұрын

It was a mistake, there was no actual liquidity to be able to sell that much, probably a shitcoin.

@TheChocolato 3 жыл бұрын

which was the otc desk that you’ve mentioned first?

@OffshoreCitizen 3 жыл бұрын

QCP Capital

@TortugaDeRio 2 жыл бұрын

I'm so confused lol I'm in the US ..I want to withdraw a $1M + .. is there steps you can provide? Like SELL-CASHOUT- WIRE TO BANK? Etc. Do I call my bank? Are there more common US banks that accept large USD wires from binance?

@godlikescrypto863 Жыл бұрын

Did u figure it out yet? Im asking for a friend lol.

@fittutube 3 жыл бұрын

What about Georgia?

@tinglestingles 3 жыл бұрын

So if it originates from a trackable source like an inheritance, taxable income, or savings - should be ok? Plus...Six to Seven figures in many exit steps (20% of holding at pre-defined prices to multiple banks) should be ok? I'm guessing it depends on the bank and future regulatory constraints?

@OffshoreCitizen 3 жыл бұрын

Yes exactly

@SulisHana 6 ай бұрын

Perfect, thats what i needed to know.. I have savings from a house sale that Ill be pulling out some of this year. Is it possible to open an offshore bank account in several low tax countries with no plan to live there? @@OffshoreCitizen

@Joe-zq1xf 2 жыл бұрын

Hey, is that right that I can move to UAE and get residency by forming the company and live there for a year and withdraw crypto to Swissquote bank for example, and I will not pay any taxes in that case? And then I can move out from UAE and no one will ask me to pay taxes anymore? My country has no double taxation with UAE. Is there an easier country to go to where you just live there for more than a 6 months to get residency and pay 0% tax.

@tyreesneed 2 жыл бұрын

lol u sound like a criminal trying to launder money

@warriors-unofficial1448 2 жыл бұрын

Michael thanks for the content. It has really helped me. Have a quick question I hope you will be able to better define for me. Scenario: Let's say I have some coin that I now want to convert to fiat. The simplest form of transaction method here. Bought low on an exchange transferred to cold storage. Now the price is high. For argument's sake let's say it I don't know, it 20x'ed Now it's worth 2 mil. I move it back from cold storage to an exchange (Doesn't matter which). Do I then transfer to something like TUSD a stable coin in order to retain the price at the time of transfer? Then follow the recommendations you suggest in your video? I'm trying to work out how one would legally follow laws and tax requirements and how an OTC would then go about selling off the coin to get me it in fiat. Without the fear of it tanking and dropping in price in the interim. I hope the question makes sense. Thanks in advance.

@cyprus-selectestates 2 жыл бұрын

Buy property with coin than sell to fiat

@sportingfemalelegends Жыл бұрын

@@cyprus-selectestates Great idea, maybe a Banksy art pece or two.. 🙂

@sportingfemalelegends Жыл бұрын

@@cyprus-selectestates Would it be best to first convert it to a stable coin, eg UDST, and send it back to wallet to chill - as buying property might take a while, when an unstable coin's value can drop? Thks

@Bradenbrandshorts 3 ай бұрын

How do you purchase joe nix Tech stocks through Abu Dhabi?

@codybresser1588 Жыл бұрын

Anyway u can explain this in a VERY dumbed down version. Like if I exchanged crypto made a shit ton how would I offload it. In simple terms.?

@OffshoreCitizen Жыл бұрын

Depends on many factors, the best option for specific advice is to book a call and we can go through as it applies to you calendly.com/michael-rosmer/

@esraakhaled7838 Жыл бұрын

Is there is anyway to withdraw crypto from Binance directly to bank account in the UAE? for example using a third party platform such as paxful that allows withdrawal to bank account! for large amount of money

@OffshoreCitizen Жыл бұрын

UAE isn't generally crypto friendly for banking so I wouldn't recommend doing so

@onlyslavesareequal2790 3 жыл бұрын

So no crypto friendly banks in Dubai?? That is surprising given tax regime in Dubai.

@OffshoreCitizen 3 жыл бұрын

Correct, you can sometimes slip some past them but decent chance you get your account closed

@mellamodiego8458 Ай бұрын

5:15 didnt silver gate bank go bankrupt?

@muhammadsaqib7161 3 жыл бұрын

Are you have a bulgarian citizenship?

@michaeljjon 10 ай бұрын

so would you not recommend sending your coins from a wallet back to the exchange and just selling whatever coins you want to take profits from on the actual exchange, and then from there just cashing out?

@OffshoreCitizen 10 ай бұрын

The issue is often banks will have issues with source of funds from these various exchanges

@timskintight 8 ай бұрын

@@OffshoreCitizenso which way is best/simple/secure? I’m in uk using Ledger wallet which I cannot cash out from(in uk),so forced to send to one or more exchanges and convert to stablecoins or cash out?

@michaeljjon 8 ай бұрын

@@OffshoreCitizen what if I called my bank to give them a heads up of the deposit?

@buzzgame4410 3 жыл бұрын

Great content, I was wondering can you go to the singapore and apply for a bank account as a tourist and then widraw your cryptocurrency otc to the bank account tax free? Or you need some sort of visa

@MichaelRosmer 3 жыл бұрын

Yes, you can in theory. This being said Singapore banks won't accept everyone so if you're a resident or citizen of certain countries they'll deny you.

@buzzgame4410 3 жыл бұрын

@@MichaelRosmer Will they accept someone from the EU country? Or is there a list I can check that?

@MichaelRosmer 3 жыл бұрын

@@buzzgame4410 depends on what type of account but they are no longer accepting EU residents for a bunch of types of accounts m

@jounakamura7094 2 жыл бұрын

You can open an account with Citibank for usd200k

@gambaownsus 3 жыл бұрын

Is the UAE great to cash out too? Zero tax?

@hellophoenix 3 жыл бұрын

A great question since there is no income tax , but the UAE does not recognize crypto currency yet .

@radkovhr 3 жыл бұрын

As long as you are UAE resident it does not matter where you cash out, you still owe zero tax, you just have to ensure the country you live in you are not considered resident for tax reasons from what I understand. As additional help there are the double taxation treaties which could also apply.

@Suckaniggadickeveryday Жыл бұрын

bro I typed a simple question on the search bar then this guy pops up and sings a song about it

@fittutube 3 жыл бұрын

So which countries accept funds from crypto exchanges with 'no questions asked'? Not because funds are illegal but because its such a hassle

@pattimurphy5151 2 жыл бұрын

Maybe Antigua.

@hexmachine6599 2 жыл бұрын

Mozambique 🇲🇿 😂😂

@SAMMYJR00777 Жыл бұрын

Turkey

@Bradenbrandshorts 3 ай бұрын

Error: Phoenix Tech

@jameswaltz8473 2 жыл бұрын

Hi Offshore I recently got involved with an Asian woman who talked me into doing Crypto on Riot. I invested all of my money which was about 100,000 and now I wanted to take some out. I profited about 178,000 in about 2 months doing node mining with her. Riot thought wants to charge me some astronomical fee to make a transfer to my bank account, Like $35,000 dollars, is this normal? It seems a little extreme and fishy to me. The reason they say they are charging this one-time fee is that i profited over 100k. They claim they have to pay for electricity and whatnot. Am I being taken for a ride or is this how this business works. I really pray you can help me out, because i have no idea where to come up with 35k to send to Riot to get some money out. Can you please discuss this with any of your affiliates, before i lose my house? Thank you Jim

@paacorvix5785 3 жыл бұрын

Do you have a telegram group?

@ramimajed9040 2 жыл бұрын

Quick question! If I hypothetically made $2 million in profit from Bitcoin, it’s on coinbase and everything is documented, I transferred that $2 million to USDT. Can I go to a crypto friendly bank to open an account and deposit it there mitigating taxes? Am I understanding that correctly? Awesome video!

@Cos3D 2 жыл бұрын

Just pay the tax

@rhynosouris710 2 жыл бұрын

The IRS knows already. Pay up & sleep at night

@masstv9052 2 жыл бұрын

No. and you don't want to go to jail over unpaid taxes, and lose even more in fines

@toyarj37 2 жыл бұрын

Yeah this is illegal

@walkbyfaithnotbysight6290 Жыл бұрын

Lol you aren’t going to avoid taxes , even with crypto not being backed by the government , you still are going to use USD , and be using it in the states and world so yeah they will get their hands on it , super sad even having nothing to do with them.

@teohsoonkeat3058 2 ай бұрын

Problems to withdraw fiat money from bitcoins.....

@muhammadsaqib7161 3 жыл бұрын

Bulgaria or Georgia Which country is better for business ?

@OffshoreCitizen 3 жыл бұрын

Depends on the type of business. Payment processing sucks in Georgia but overall bureaucracy is more efficient

@fittutube 3 жыл бұрын

@@OffshoreCitizen Will Georgian banks accept crypto transfers with little proof of funds?

@souiritv8355 2 жыл бұрын

@@fittutube Portugal is better .it has crypto friendly banks and zero taxes on crypto if there is no active regular trading .

@jrcatanghal7809 3 жыл бұрын

Michael, im a newbee in crypto but I wanted to cashout my coins. The exchange platform says i have to pay taxes to them before i can withdraw my coins to US bank. Is that how it really works?

@MichaelRosmer 3 жыл бұрын

Say what? What kind of exchange are you on? No you don't pay taxes to an exchange you pay to the IRS if you're American.

@mymichel291 2 жыл бұрын

@@MichaelRosmer this new to me as well. I just started to invest with a platform and, I want to withdraw my money, they charge a 30% on the profit 📈, plus additional fees to Blockchain Organization agency it seems outside the United States. Plus they want all that fees paid for of front. What do you suggest? Thank you! Great information by the way 👍

@l.h.tnguyen4916 10 ай бұрын

If I read things correctly, Once you sell and convert to Tether, the sale of the crypto is taxed and reported to the IRS. So how does one not pay taxes?

@OffshoreCitizen 10 ай бұрын

Give up your US citizenship and move somewhere with better tax rules, move to Puerto Rico, put it in a foreign non grantor trust

@l.h.tnguyen4916 10 ай бұрын

@@OffshoreCitizen I think I might need to do a consultation with you to gets some options that don't include giving up my citizenship. Thanks for the link

@tinglestingles 3 жыл бұрын

My concern is what happens after cashout? I cash out in January... see a property in Portugal in February, for example... I finally manage to purchase in June... a lot can happen in the world between January and June. Am I really happy keeping £XXX,XXXk in USDC or the bank for 6 months?

@OffshoreCitizen 3 жыл бұрын

What would you mainly be concerned about happening

@tinglestingles 3 жыл бұрын

@@OffshoreCitizen US $ devaluation if converted to USDC? Or possible issues with institutional failure/bail in's? Or a high rate of inflation? Am I overthinking the SHTF scenarios? I just thought about mitigation. Perhaps multiple banks in multiple jurisdictions to diversify?

@OffshoreCitizen 3 жыл бұрын

I think there's a lot more FUD about the US banking and financial system than us deserved. Maybe partially because people haven't conceptualized the differences in what rates of inflation mean and magnitude. We'll quite likely see an up tick in inflation but there's a world of difference between 5%, 10%, 20%, 50% etc. 5% would be a huge jump but practically speaking wouldn't likely have much impact on your day to day life and far less than a 70% drop in the price of BTC at the end of a bull run. There's a whole bunch of systemic reasons you're not going to see over 20% inflation and even that wouldn't be catastrophic.

@antb533 3 жыл бұрын

@@tinglestingles if anything the USD seems to be getting stronger vs eur.

@tinglestingles 3 жыл бұрын

@@OffshoreCitizen I appreciate your replies and esteemable experience in this space.

@frankfunk9188 3 жыл бұрын

Do those banks demand any kind of proof that you will pay taxes? Is there data exchange between Swiss banks and the EU? Or, how to get your crypto tax free?

@OffshoreCitizen 3 жыл бұрын

They can't demand proof, but can ask you to sign a document. Every bank has a different policy, there's no one rule that applies to all. Swiss banks are obliged to report annual tax statistics to the EU

@H80989 Жыл бұрын

Michael you're probably the only guy i trust on youtube can you tell me the truth about cypto ? Can i really make the amount you mentioned 120k 5 million ? Through binance and these crypto websites ? Kindly help. Thank you

@millertime22x27 3 жыл бұрын

Do I have to say yes if my bank contact me

@OffshoreCitizen 3 жыл бұрын

What do you mean?

@baronsilverbaron757 Ай бұрын

If you have multiple Bitcoin why cash them all out? Why not just cash out as you need the money.

@beenhavinpape Жыл бұрын

I think you’d be interested in $GIGA: OTC swaps between ANY blockchain (including native $BTC) Any asset (including bundles or fraction of #NFTs) OTC swap > DEX > CEX Descentralized OTC TAX FREE swaps are the future. Stakers get 90% of all fees generated from volume on Gigaswap and are paid in Eth

@PampItPapi 3 жыл бұрын

Any banks in Malta? I thought Malta was crypto friendly too...

@4ivar 3 жыл бұрын

They are supposedly friendly to companies that deal with crypto

@OffshoreCitizen 3 жыл бұрын

Maltese banks aren't friendly to anything

@robertpetersen6122 9 ай бұрын

We are Americans we don’t give a shit about foreign banks holy shit great info

@user-jr7yt9ib9l Жыл бұрын

I have bitcoins up to $32,000 but how do I get it to my wallet and then bank acct

@OffshoreCitizen Жыл бұрын

Where are you holding it if not your wallet?

@rebeccaklein3919 2 жыл бұрын

I need to deposit crypto currancy

@leprechaun3677 Жыл бұрын

This didn’t age well, RIP Silvergate

@bryanagudelo2390 3 жыл бұрын

How do i cash out DAG ? Havent found a way can someone help

@josephcarlson9324 3 жыл бұрын

Mail me

@pattimurphy5151 2 жыл бұрын

just convert it to usdt and send to bank..but that is taxed then.

@bryanagudelo2390 2 жыл бұрын

Throught what app?

@andreferrer9350 3 жыл бұрын

I like your energy and knowledge, but please talk slower in your videos, more discernible

@OffshoreCitizen 3 жыл бұрын

Thanks for the feedback. If you ever need you can slow the video down using the KZfaq settings

@kbrickell4732 3 жыл бұрын

What is OTC desk???

@OffshoreCitizen 3 жыл бұрын

Over-the-counter (OTC) desk is a term for a party in a crypto trade that is dedicated to buying and selling of a particular asset class

@badhabitz69 3 жыл бұрын

@@OffshoreCitizen How do you go about finding an OTC desk in a particular country??

@dutterR 3 жыл бұрын

How to Cash Out Your Crypto in UAE?

@OffshoreCitizen 3 жыл бұрын

Set up a foreign bank account and cash it out to there then transfer into UAE

@micha1208 3 жыл бұрын

Use BitOasis exchange

@justingriffin2546 2 жыл бұрын

@@micha1208 but how to get from crypto into fiat to buy a property with Bitoasis?

@justingriffin2546 2 жыл бұрын

i love your work ..is portugal the only country with crypto friendly banks?

@stephengreaves7935 3 жыл бұрын

Offshore Capitalist causes 10% crypto crash?;)

@jamesstat 3 жыл бұрын

Michael I think you should specify that banks don’t “accept your crypto” as you’re stating in this video - they won’t custody ETH or XRP for example... All they will do is allow you to “cash out” your crypto - at which point you will pay CGT... very different to say “exchanging crypto for gold bullion” for example as mentioned...

@OffshoreCitizen 3 жыл бұрын

No that's not accurate. If you cash out from an exchange and transfer the fiat to your bank account many of these banks will close your account.

@pattimurphy5151 2 жыл бұрын

@@OffshoreCitizen Crud, they will close your bank because you transfer crypto gains into it? like they think you are a drug dealer or something.

@tyreesneed 2 жыл бұрын

@@OffshoreCitizen why would they close your account??????

@AVAM.. 3 жыл бұрын

Best cashing out method: Buy a TESLA

@andreferrer9350 3 жыл бұрын

Hehe Elon the Memelord, thanks you

@cryptoha5076 3 жыл бұрын

Not anymore. Elon is bell end

@rebeccaklein3919 2 жыл бұрын

I’s there a way to speak to you directly

@OffshoreCitizen 2 жыл бұрын

Of course! You can book a call using this link calendly.com/michael-rosmer

@gt4real377 2 жыл бұрын

Lite coin will stop your device from making youtube comments

@roxanabraescu6180 Жыл бұрын

are you from Australia

@OffshoreCitizen Жыл бұрын

No I'm originally from Canada though have lived abroad for quite a few years

@englishsongs7303 2 жыл бұрын

Could you please tell about crypto friendly banks in the UAE

@MichaelRosmer 2 жыл бұрын

Banks in UAE aren't crypto friendly you need to use foreign banks

@englishsongs7303 2 жыл бұрын

@@MichaelRosmer Thank you very much

@SAMMYJR00777 Жыл бұрын

Turkey no worries

@Jumii31 Жыл бұрын

Please connect me with OTC desk

@OffshoreCitizen Жыл бұрын

Send us a message through www.offshorecitizen.net

@sadikialban 3 жыл бұрын

Don't cash out bitcoin, you will regret and cry

@vicr8815 2 жыл бұрын

This did not help why not just post a video showing how to convert cypto into cash.

@vazzy5080 Ай бұрын

yeah good idea, he should start wasting his time vlogging the entire process like a tiktoker. Is that what you mean right? great idea

@conspiracytheorist5408 20 күн бұрын

Send money to coinbase direct deposit to bank why in the fuck does no body talk about coinbase

@AlessandroPiccione 5 ай бұрын

bla bla bla bla.... I was jumping in and there in the video to get some names... nothing... A simple web page or a stupid plain text with a list would have done the work.

@666jjdemon 8 ай бұрын

pls stop mumbling can't understand

@paulahavens2764 5 ай бұрын

To confused talking, less talk more showing on a board to show what you are doing. You say a lot of words beginners have no idea of hat you are saying. Thanks for your video but you just confused me more. Sorry but thumbs down.